Medirom healthcare technologies announces acquisition of japan gene medicine corporation

New york, july 10, 2024 (globe newswire) -- medirom healthcare technologies inc. (“we”, “our”, “us” or “the company”) hereby announces that the company plans to acquire a majority of japan gene medicine corporation (the “target company”). on june 30, 2024, the company entered into a share transfer agreement (the "share transfer agreement") to acquire 70.0% of the shares of the target company from an individual shareholder. the company has also entered into a legally binding memorandum of understanding (the "additional transfer memorandum of understanding"), effective as of june 30, 2024, to obtain an option to acquire the remaining 30.0% of the target company's shares from the seller. the closings of the transactions under the share transfer agreement and additional transfer memorandum of understanding are each subject to certain conditions. certain of these closing conditions under the share transfer agreement are summarized below.
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